Spectrum Brands (NYSE:SPB) Reaches New 52-Week Low – Should You Sell?

Spectrum Brands Holdings Inc. (NYSE:SPB) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $51.12 and last traded at $51.83, with a volume of 29006 shares changing hands. The stock had previously closed at $52.05.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SPB shares. Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Monness Crespi & Hardt decreased their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Finally, UBS Group boosted their price objective on Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Spectrum Brands Trading Up 0.1%

The stock has a market capitalization of $1.30 billion, a PE ratio of 24.92 and a beta of 0.93. The company’s 50 day moving average price is $59.82 and its two-hundred day moving average price is $72.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.34 and a quick ratio of 1.40.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). The business had revenue of $675.70 million during the quarter, compared to analysts’ expectations of $701.00 million. Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. As a group, analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Tuesday, May 27th. Spectrum Brands’s dividend payout ratio (DPR) is currently 89.95%.

Insider Buying and Selling at Spectrum Brands

In other news, CEO David M. Maura sold 66,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the transaction, the chief executive officer now owns 723,607 shares of the company’s stock, valued at approximately $47,417,966.71. The trade was a 8.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Spectrum Brands during the 4th quarter worth approximately $387,000. State of New Jersey Common Pension Fund D increased its stake in Spectrum Brands by 8.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 23,257 shares of the company’s stock worth $1,965,000 after acquiring an additional 1,780 shares during the last quarter. Ieq Capital LLC acquired a new stake in Spectrum Brands during the fourth quarter worth $562,000. Proficio Capital Partners LLC purchased a new stake in Spectrum Brands in the fourth quarter valued at $2,463,000. Finally, Versor Investments LP acquired a new position in shares of Spectrum Brands in the 4th quarter valued at $331,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.